As Cap’s reserve completes its initial bootstrapping phase, we are now kickstarting delegations and borrowing at Cap. For that purpose, Cap will be publicly tracking delegation contributions, much like we are tracking cUSD user behavior. This will serve to identify key delegator partners on both Symbiotic and EigenLayer, as borrowing from Cap begins to come online.
Delegators will earn delegator contribution rewards (named “COGs”) for every dollar of delegations to Cap operators. A boost will be added based on loan to value figures, to ensure that Cap rewards go to productive delegations.
The program will last until the end of Cap’s Frontier program. COGs are completely separate from caps given as part of the Frontier program.
COG Calculations
Delegation rate
A base rate of COGs will be awarded to delegators based on the dollar value delegated to Cap operators per day. During the first month of tracking, delegators will earn twice as many COGs as usual. After this period, a lower rate will be awarded until the end of the period.
EigenLayer delegations will also have a 1 month early period, once Cap delegations go live on EigenLayer. Currently, only delegations on Symbiotic are tracked.
Early epoch rate- 1 month from start: 10x
Normal epoch rate: 5x
COGs will be awarded based on the following formula:
COGs awarded per day = Delegation value * Epoch rate * Borrow Boost
Borrow boost
In order to ensure that all delegations are productive, a multiplier will be added to delegations whose operators are borrowing. This boost will only be applied up to a 50% loan to value, as Cap does not want to encourage risky borrowing practices. The maximum boost multiplier will be 2x.
The following calculation will be used to boost COGs:
Boost = 1 + min(ltv, 0.5) * 2
Symbiotic rewards
Symbiotic has budgeted points to reward delegators and operators in Cap’s network. Points will be allocated to active participants of the network based on Symbiotic’s internal criterias.
Keep up to date with Cap
Follow our socials to keep up to date with Cap news and developments.
X: @capmoney_
Website: cap.app
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capFrontier Program: Epoch 2
Epoch 1 will end on September 1st, when Epoch 2 starts. Ahead of this change, we’re releasing details for epoch 2. Remember that Frontier is designed for long term users - continued participation is needed to unlock its full potential.Epoch 1 RecapEpoch 1 of Cap’s Frontier Program was simple, bootstrap cUSD’s reserve with USDC. The market reception was tremendous, with over $65M in user deposits from a distributed set of users. Blue chip projects have already integrated cUSD and stcUSD. Pendl...
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Cap enters its third and final epoch of Frontier. Epoch 3 will begin on October 13th and last until the end of Frontier. The program may last less than the originally-intended 5 month period in the event that certain internal metrics are met.Participation boostNote that there will be a boost for users that participate in Cap consistently from earlier epochs. The longer a user participate in Frontier, the better their outcome will be. Users that leave Frontier early will not receive the full b...
capCap Frontier Program
IntroOn August 18th, Cap will open to the public on Ethereum mainnet. All protocol functions will go live on this date. In order to track user contribution, “Caps” will be awarded for select user activity that benefit the Cap ecosystem overall. Caps are not just points, but a tool that will be used to identify key community members that are power users of our protocol. For example, we will reach out to top Caps holders for unique perks, special events, and additional access to the team.Struct...
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As Cap’s reserve completes its initial bootstrapping phase, we are now kickstarting delegations and borrowing at Cap. For that purpose, Cap will be publicly tracking delegation contributions, much like we are tracking cUSD user behavior. This will serve to identify key delegator partners on both Symbiotic and EigenLayer, as borrowing from Cap begins to come online.
Delegators will earn delegator contribution rewards (named “COGs”) for every dollar of delegations to Cap operators. A boost will be added based on loan to value figures, to ensure that Cap rewards go to productive delegations.
The program will last until the end of Cap’s Frontier program. COGs are completely separate from caps given as part of the Frontier program.
COG Calculations
Delegation rate
A base rate of COGs will be awarded to delegators based on the dollar value delegated to Cap operators per day. During the first month of tracking, delegators will earn twice as many COGs as usual. After this period, a lower rate will be awarded until the end of the period.
EigenLayer delegations will also have a 1 month early period, once Cap delegations go live on EigenLayer. Currently, only delegations on Symbiotic are tracked.
Early epoch rate- 1 month from start: 10x
Normal epoch rate: 5x
COGs will be awarded based on the following formula:
COGs awarded per day = Delegation value * Epoch rate * Borrow Boost
Borrow boost
In order to ensure that all delegations are productive, a multiplier will be added to delegations whose operators are borrowing. This boost will only be applied up to a 50% loan to value, as Cap does not want to encourage risky borrowing practices. The maximum boost multiplier will be 2x.
The following calculation will be used to boost COGs:
Boost = 1 + min(ltv, 0.5) * 2
Symbiotic rewards
Symbiotic has budgeted points to reward delegators and operators in Cap’s network. Points will be allocated to active participants of the network based on Symbiotic’s internal criterias.
Keep up to date with Cap
Follow our socials to keep up to date with Cap news and developments.
X: @capmoney_
Website: cap.app
capFrontier Program: Epoch 2
Epoch 1 will end on September 1st, when Epoch 2 starts. Ahead of this change, we’re releasing details for epoch 2. Remember that Frontier is designed for long term users - continued participation is needed to unlock its full potential.Epoch 1 RecapEpoch 1 of Cap’s Frontier Program was simple, bootstrap cUSD’s reserve with USDC. The market reception was tremendous, with over $65M in user deposits from a distributed set of users. Blue chip projects have already integrated cUSD and stcUSD. Pendl...
capFrontier Program - Epoch 3
Cap enters its third and final epoch of Frontier. Epoch 3 will begin on October 13th and last until the end of Frontier. The program may last less than the originally-intended 5 month period in the event that certain internal metrics are met.Participation boostNote that there will be a boost for users that participate in Cap consistently from earlier epochs. The longer a user participate in Frontier, the better their outcome will be. Users that leave Frontier early will not receive the full b...
capCap Frontier Program
IntroOn August 18th, Cap will open to the public on Ethereum mainnet. All protocol functions will go live on this date. In order to track user contribution, “Caps” will be awarded for select user activity that benefit the Cap ecosystem overall. Caps are not just points, but a tool that will be used to identify key community members that are power users of our protocol. For example, we will reach out to top Caps holders for unique perks, special events, and additional access to the team.Struct...
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